PERNOD RICARD S A SP/ADR - PRNDY STOCK NEWS

Pernod Ricard USA is launching a new platform called 'Gift Like Dads Favorite' in honor of Father's Day. The platform offers consumers a lineup of daily giveaways, elevated prize packs, and Father's Day experiences in Chicago, Los Angeles, and Miami. Pernod Ricard is showcasing a collection of premium spirits aged to perfection, including Aberlour 12 Year Scotch Whisky, Jefferson's Reserve bourbon blend, Redbreast 12-Year-Old Irish whiskey, and Martell Blue Swift cognac. Consumers aged 21+ can participate in a daily sweepstakes to win top-shelf whiskey accessories. Father's Day sampling events featuring Pernod Ricard's high-marque spirits will be held in Chicago, Los Angeles, and Miami.

Pernod Ricard reported strong sales for the first nine months of FY23, totaling €9,507 million with an 8% organic growth. Price increases across all regions contributed to a 9% price effect.

Sales in the USA declined by 1%, while China saw a 5% drop. However, India exhibited a robust growth of 15%, and Global Travel Retail experienced a remarkable recovery with 33% growth.

Reported sales increased by 13%, benefiting from favorable exchange rates. The company anticipates a strong Q4 performance while expecting +10% organic growth in profit from recurring operations for the full year. An interim dividend of €2.06 per share will be detached on 5 July 2023.

Pernod Ricard has signed an agreement to acquire a majority stake in Skrewball, the first super-premium peanut butter flavored American whiskey, founded in 2018. Skrewball achieved sales of over half a million nine-liter cases in 2022, contributing to the growing flavored whiskey category in the US, which represents a quarter of overall whiskey sales. This acquisition complements Pernod Ricard's strategy of premiumization and consumer-centric growth. Ann Mukherjee, CEO of Pernod Ricard North America, expressed confidence in Skrewball's potential for growth under their management, while the founders highlighted their excitement for Skrewball's future.

Pernod Ricard has announced a share buyback program worth €300 million as part of its overall €750 million commitment for FY23, originally disclosed on September 1, 2022. The buyback will commence on February 20, 2023, and may extend until April 6, 2023. The maximum purchase price for shares is capped at €320 each, as approved by shareholders at the meeting on November 10, 2022. With consolidated sales of €10,701 million in FY22, Pernod Ricard continues to be a leading player in the global wines and spirits market, managing over 240 premium brands.

Pernod Ricard reported strong financial performance for H1 FY23, with sales reaching €7,116m, reflecting a +12% organic growth. The growth was broad-based across regions: Americas +7%, Asia-RoW +18%, and Europe +6%. Notably, all spirits segments saw double-digit growth, with Strategic International Brands up by +13%. The pricing dynamic remained robust with a +10% increase, and gross margin expanded by +5 bps. Net profit increased by +29% to €1,792m. However, free cash flow decreased by 28% due to higher working capital needs. The company remains optimistic about continued growth in FY23.

On February 15, 2023, Jameson Irish Whiskey announced the return of SPTO (St. Patrick's Day Time Off) for March 17, 2023, this year falling on a Friday. To alleviate guilt associated with taking PTO, the brand has introduced Jameson Desk Decoys, personalized life-size cardboard cutouts designed to represent employees at work. Each cutout costs $17.80 and can be customized. Orders are available until March 3, and a portion of sales will go to the Restaurant Workers' Community Fund, plus a $25,000 donation from Jameson. The initiative is supported by actor Regina Hall in a humorous campaign encouraging people to celebrate guilt-free.

Malibu has launched a new flavor, Malibu Peach, a sweet yellow peach-flavored rum designed to evoke summer vibes year-round. Available in various bottle sizes (50ML, 750ML, 1L, 1.75L) with an ABV of 21%, it aims to enhance cocktails and create refreshing drinks. The introduction of Malibu Peach coincides with its addition to the ready-to-drink cocktails line, now featuring Malibu Peach Rum Punch in a can. Malibu Cocktails in a Can are also offered in other flavors and have an ABV of 7%. This new addition responds to consumer preferences, as peach ranks among the top five summer flavors globally. For more details, visit maliburum.com.

Tequila Avión has launched a collaboration with famed producer WondaGurl, introducing a remixed version of its Avión Listening Experience, which incorporates the sounds of the tequila-making process. The event debuted in Miami and featured a unique auditory journey as WondaGurl guided attendees through the tasting experience. Additionally, the partnership offers aspiring musicians a chance to win at-home studio bundles valued at approximately $2,875 and a one-on-one mentoring session with WondaGurl. Contest submissions are open until January 22, 2023.